The most important U.S. economic data this week is the third-quarter Gross Domestic Product (GDP) report to be released on the 29th. Economists expect U.S. third-quarter GDP to grow at a rate of 3.2%, reversing the trend of four consecutive quarters of contraction.
Economists have previously stated that the economic recession ended in June or July of this year, and the GDP report to be released by the U.S. Bureau of Economic Analysis (BEA) on the 29th is expected to confirm the views of most economists.
Economists surveyed by Reuters analyze that the report on the 29th is expected to show that U.S. third-quarter GDP grew at a rate of 3.2%, marking the first expansion in over a year; the median forecast from economists surveyed by Dow Jones indicates that real GDP for the last quarter is expected to grow at a rate of 3.1%. The U.S. government's "Cash for Clunkers" program helped boost consumer spending, and the rate of decline in inventory levels has also slowed significantly. The final GDP figure for the second quarter was a contraction of 0.7%.